Price Change to Note: It Seems RSP Permian Inc Will Go Up. Just Reaches 52-Week High

October 10, 2016Hazel Jackson

The stock of RSP Permian Inc (NYSE:RSPP) hit a new 52-week high and has $54.21 target or 31.00% above today’s $41.38 share price. The 9 months bullish chart indicates low risk for the $4.20B company. The 1-year high was reported on Oct, 10 by Barchart.com. If the $54.21 price target is reached, the company will be worth $1.30 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 351,875 shares traded hands. RSP Permian Inc (NYSE:RSPP) has risen 46.60% since March 7, 2016 and is uptrending. It has outperformed by 39.00% the S&P500.

Analysts await RSP Permian Inc (NYSE:RSPP) to report earnings on November, 7. They expect $-0.01 earnings per share, down 106.67% or $0.16 from last year’s $0.15 per share. After $-0.04 actual earnings per share reported by RSP Permian Inc for the previous quarter, Wall Street now forecasts -75.00% EPS growth.

RSP Permian Inc (NYSE:RSPP) Ratings Coverage

Out of 25 analysts covering RSP Permian (NYSE:RSPP), 19 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 76% are positive. RSP Permian has been the topic of 59 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Roth Capital on Thursday, August 6. As per Tuesday, November 3, the company rating was maintained by Northland Capital. The stock of RSP Permian Inc (NYSE:RSPP) earned “Buy” rating by Nomura on Thursday, December 3. On Tuesday, June 14 the stock rating was maintained by Wunderlich with “Buy”. The firm has “Hold” rating given on Tuesday, October 20 by Canaccord Genuity. The company was maintained on Wednesday, August 5 by Wunderlich. The rating was maintained by Barclays Capital on Monday, August 15 with “Equal-Weight”. KeyBanc Capital Markets maintained the stock with “Overweight” rating in Monday, August 22 report. The stock of RSP Permian Inc (NYSE:RSPP) has “Market Perform” rating given on Wednesday, December 9 by Cowen & Co. As per Wednesday, August 10, the company rating was downgraded by Goldman Sachs.

According to Zacks Investment Research, “RSP Permian, Inc. is engaged in the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves primarily in the Permian Basin of West Texas. RSP Permian, Inc. is based in Dallas, United States.”

Insitutional Activity: The institutional sentiment decreased to 1.47 in Q2 2016. Its down 0.26, from 1.73 in 2016Q1. The ratio worsened, as 22 funds sold all RSP Permian Inc shares owned while 53 reduced positions. 40 funds bought stakes while 70 increased positions. They now own 86.99 million shares or 1.23% less from 88.07 million shares in 2016Q1.
State Bank Of America De holds 0% of its portfolio in RSP Permian Inc (NYSE:RSPP) for 533,346 shares. Samlyn Lc reported 400,024 shares or 0.33% of all its holdings. Bluecrest Management, a Guernsey-based fund reported 108,059 shares. Driehaus Capital Mngmt Ltd Llc holds 0.03% or 25,047 shares in its portfolio. The New Jersey-based Palisade Cap Management Limited Co Nj has invested 0.03% in RSP Permian Inc (NYSE:RSPP). Eam Ltd Llc has invested 0.38% of its portfolio in RSP Permian Inc (NYSE:RSPP). First Mercantile Trust has 0.05% invested in the company for 12,300 shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Mgmt Corporation holds 0.02% or 51,720 shares in its portfolio. Sei Invests has 116,932 shares for 0.02% of their US portfolio. Bokf Na accumulated 2,933 shares or 0% of the stock. Wfg Advsrs Ltd Partnership holds 1 shares or 0% of its portfolio. Moreover, Aperio Group Limited Liability Com has 0% invested in RSP Permian Inc (NYSE:RSPP) for 6,007 shares. Tower Cap Lc (Trc) owns 4,459 shares or 0.01% of their US portfolio. Moreover, Century Cap Mngmt Ltd Co has 0.15% invested in RSP Permian Inc (NYSE:RSPP) for 38,879 shares. Waddell & Reed Fincl Inc holds 0.12% or 1.60 million shares in its portfolio.

Insider Transactions: Since April 12, 2016, the stock had 1 buying transaction, and 16 sales for $13.54 million net activity. Shares for $1.43M were sold by Collins Ted Jr. Wallace Family Partnership – LP also sold $2.33 million worth of RSP Permian Inc (NYSE:RSPP) shares. $238,740 worth of RSP Permian Inc (NYSE:RSPP) was sold by Huck William. The insider Arrott Zane W. sold $1.59 million. Daugbjerg Erik B had sold 17,500 shares worth $632,275 on Wednesday, June 8. Another trade for 35,000 shares valued at $1.14 million was sold by Pollard Tamara D.. The insider HUSEMAN KENNETH V bought $75,520.

RSPP Company Profile

RSP Permian, Inc., incorporated on September 30, 2013, is an independent oil and natural gas firm focused on the acquisition, exploration, development and production of unconventional oil and associated liquids-rich natural gas reserves in the Permian Basin of West Texas. The Firm operates through the oil and natural gas exploration and production industry in the United States segment. The Company’s properties are located on contiguous acreage blocks in the Midland Basin, a sub-basin of the Permian Basin, primarily in the adjacent counties of Midland, Martin, Andrews, Dawson, Ector and Glasscock.